Universal Registration Document 2019

45 LISI 2019 UNIVERSAL REGISTRATION DOCUMENT Consolidated financial statements 2 3.4.1.2 - Tangible assets a) Tangible assets held in full (including evaluation spreads) Tangible fixed assets are recorded at diminished cost with accumulated depreciations and impairments. The cost of an asset produced by the Group for itself includes the costs of raw materials, direct manpower, and an estimate, if applicable, of costs related to the removal and dismantling of the asset and the repair of the site at which it is located, along with an appropriate share of the general production costs. When the components of tangible fixed assets have different useful lives, they are recorded as separate tangible fixed assets, as per the components method. When calculating the book value of a tangible fixed asset, the Group recognizes the cost of replacing a component of this tangible fixed asset at the time when the cost is incurred, if it is likely that future economic benefits associated with this asset will flow to the Group and if its cost can be reliably estimated. All ongoing servicing and maintenance costs are recognized as an expense when they are incurred. Depreciation is recognized as an expense using the straight- line method over the estimated useful life for each component of a tangible fixed asset. Land is not depreciated. Estimated useful lives are as follows: ■ buildings: 20 – 40 years; ■ plant and machinery: 10 – 15 years; ■ fixtures and fittings: 5 – 15 years; ■ transport equipment: 5 years; ■ equipment and tools: 10 years; ■ office equipment: 5 years; ■ office furniture: 10 years; ■ IT hardware: 3 years. Statement of tangible assets held in full at the close: (in thousands of euros) Land Buildings Technical facilities, equipment and tools Other tangible assets Current assets TOTAL GROSS VALUES AT DECEMBER 31, 2018 21,268 232,484 1,194,363 103,415 62,059 1,613,597 Other changes 0 23,698 53,726 (4,892) (77,768) (5,236) Acquisitions 1,635 1,213 38,781 4,505 61,063 107,197 Disposals (54) (4,036) (67,277) (6,948) (439) (78,754) Scope changes (242) (7,301) (22,148) (6,333) (401) (36,425) Exchange rate differences 11 1,053 8,058 234 293 9,649 GROSS VALUES AT DECEMBER 31, 2019 22,618 247,111 1,205,503 89,981 44,807 1,610,027 DEPRECIATION AT DECEMBER 31, 2018 898 97,445 787,046 70,426 217 956,032 Other changes 40 (563) (38) (3,253) (40) (3,854) Depreciation allowance 100 11,679 81,373 9,711 40 102,903 Depreciation reversals 0 (3,308) (58,810) (9,553) (142) (71,813) Scope changes (93) (3,543) (14,273) (3,190) 0 (21,099) Exchange rate differences 0 369 4,645 188 0 5,202 Depreciation at December 31, 2019 945 102,079 799,943 64,344 75 967,386 NET VALUES AT DECEMBER 31, 2019 21,673 145,032 405,560 25,623 44,732 642,649 The amounts shown in scope changes are the result of the sale of INDRAERO SIREN and LISI AEROSPACE Creuzet Maroc. The sale of the Saint-Florent-sur-Cher site impacted the change in net tangible fixed assets by €-9.8 million.